Mix of a long term goal and potential short term rally
Updated
Long term goal for EURUSD is a downtrend to approx. 0.90190.
Thats the goal but A rally could happen along side 1.07 to 1.05 which may rally as high to 1.19 approx but not close higher than 1.22 and continues to drop lower to 0.9.
In the midst of this view ahead, while trading in lower time i be aware of the long term target and potentially rally ahead could wipe me out so would not get in the way of counter trend.
Thats the goal but A rally could happen along side 1.07 to 1.05 which may rally as high to 1.19 approx but not close higher than 1.22 and continues to drop lower to 0.9.
In the midst of this view ahead, while trading in lower time i be aware of the long term target and potentially rally ahead could wipe me out so would not get in the way of counter trend.
Note
The price have reached. Would test 1h recent low because the closed daily price.Note
It's current position 10818.Near term test 10987.
The recent weakness could be a retrace when close above 10880 this month given 8 months rally putting off strength on shorts.
Trading activities mixed and non-strong bias for shorts and could see strong rally t0 12000.
Several strong selling beyond 12000 but a big range to 14000 between 14500.
Despite the recent EURUSD weakness seem to be weakening to the downside yet is not a downtrend at it's current position.
Note
Add on to the above post. (Lowest to go 10697)Comment: It's current position 10818.
Near term test 10987.
The recent weakness could be a retrace when close above 10880 this month given 8 months rally putting off strength on shorts.
Trading activities mixed and non-strong bias for shorts and could see strong rally t0 12000.
Several strong selling beyond 12000 but a big range to 14000 between 14500.
Despite the recent EURUSD weakness seem to be weakening to the downside yet is not a downtrend at it's current position.
Note
10987 was tested this week so did 10880.Looking forward a tentative 12000.
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